MINNEAPOLIS — Cargill Inc. settled allegations posed by McDonald’s Corp. in a beef price-fixing suit, according to a joint statement from the two companies on April 29.

 “We are pleased to put this matter behind us on terms that strengthen and grow our partnership with McDonald’s,” said Peter Richter, chief customer officer of Cargill. “McDonald’s is a valued customer, and we look forward to continuing to work together to nourish the world.”

In October 2024, McDonald’s filed a complaint against several beef suppliers for allegedly conspiring to manipulate the price of beef for nearly a decade. Among the defendants were Cargill, JBS S.A., National Beef Packing Co., Tyson Foods Inc. and their affiliates.

Between January 2015 and October 2025, McDonald’s said it had purchased beef from one or more of the above-mentioned meat processors. The quick-service food chain previously claimed that during that period, the companies colluded to reduce beef supply so that prices would be raised above levels of a competitive market.

McDonald’s complaint used previous litigation filed against the processors and investigations by the US Department of Justice to back its argument.

With the recent joint announcement, the allegations against Cargill have been dropped.

“Cargill has been a partner to McDonald’s for more than 45 years, and we value that partnership,” said Cesar Piña, senior vice president and chief supply chain officer for McDonald’s USA.

The agreement between the companies involves only a dismissal of claims against Cargill; the case continues against the remaining defendants.

As for similar remaining lawsuits brought against Cargill by others, Richter said, “We stand by our conduct, and we will continue to aggressively defend against those claims.”